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<p>A year after Threshers went bust, less than a third of its 1,400 stores have been reopened as off-licences, administrators said.</p>
<p>Only 400 of the stores were sold, with the majority being bought by small off-licence chains, and the other 1,000 returned to landlords, said accountancy giant KPMG, which is still working on the administration.</p>
<p>The national off-licence business model has been weakened by competition from supermarkets who with their immense buying power can sell booze cheaper than anyone else.</p>
<p>First Quench Retailing (FQR), which owned the Threshers, Wine Rack, Victoria Wine, Bottoms Up and Haddows fascia, went into administration with the loss of 6,300 jobs.</p>
<p>Unsecured creditors still owed money by FQR, including alcohol giant Diageo, lost a total of £41 million when it collapsed and are expected to get 1.4p in the pound back.</p>
<p>Some of the names which traded on the high street will live on.</p>
<p>The Threshers, Bottoms Up, The Local and Victoria Wine brands were sold to a small property and discount stores business, SEP Properties, in the West Midlands which said at the time it intended to open an internet wine business and a chain of off-licences.</p>
<p>The Wine Rack name was bought by London-based Venus Wine and Spirits and can still be found on high streets in the South East.</p>
<p>KPMG is expecting a fresh wave of retailers to go bust after Christmas as January&#8217;s increase in VAT pushes strugglers over the edge.</p>
<p>It said January is normally the bleakest time of year for retailers because they see a post-Christmas dip in trading but this year will be made worse by the tough trading conditions and the hike in VAT.</p>
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